Fraser, MI

Very Low · 64

Michigan · Population 14,604 · Updated March 2026

$827
Median Rent / Month
$61,118
Median Income
$193,600
Median Home Value
$1,065
Owner Costs / Month

Affordability

How far your income goes in Fraser

16.2%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Michigan

State-level tax rates that affect your costs

4.25%
Income Tax (Top Rate)
6.0%
Sales Tax
1.38%
Property Tax Rate

Estimated Annual Costs

$9,924
Annual Rent
$2,598
State Income Tax
$2,672
Property Tax (est.)

Cost of Living Overview

Fraser is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 64 (where 100 equals the national median), Fraser residents can expect to pay median rent of $827/month while earning a median household income of $61,118/year.

The median home value in Fraser, MI is $193,600, with typical monthly owner costs around $1,065 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.2% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Michigan has a moderate income tax rate of 4.25%. Combined with a 6.0% sales tax rate and 1.38% effective property tax rate, the overall tax environment is a factor in the total cost of living in Fraser.

Frequently Asked Questions

Common questions about living costs in Fraser

What is the cost of living in Fraser, MI?
The cost of living index in Fraser, MI is 64 (US average = 100). Median monthly rent is $827, median household income is $61,118/year, and the median home value is $193,600.
Is Fraser, MI affordable?
Yes, Fraser is more affordable than the national average with a cost index of 64. The rent-to-income ratio is 16.2%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Fraser, MI?
The median gross rent in Fraser, MI is $827 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $9,924.
What is the median household income in Fraser?
The median household income in Fraser, MI is $61,118 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Michigan?
Michigan has a top income tax rate of 4.25%, a sales tax of 6.0%, and an effective property tax rate of 1.38%.